TIDMNSCI
NetScientific PLC
13 May 2021
NetScientific plc
("NetScientific", the "Group" or the "Company")
EMV Capital advised on GBP2.9m funding for anaesthetic gas
recycling tech business SageTech
Funds raised include GBP200,000 investment by NetScientific
London, UK - 13 May 2021 - NetScientific plc (AIM: NSCI), the
international life sciences and sustainability, technology
investment and commercialisation group, announces that its
corporate finance and venture capital division EMV Capital Ltd
("EMVC") advised on a GBP2.9m pre-series A round for its Advised
Portfolio Company, anaesthetic gas recycling technology firm
SageTech Medical Equipment Ltd ("SageTech").
The total raised included GBP1.6m of investment introduced by
EMVC, including a direct investment of GBP200,000 by
NetScientific.
This investment follows a successful first close in November
2020 of GBP1.28m. Since the first close of this investment round,
John Clarkson (Chairman of NetScientific PLC), has joined the board
of SageTech, bringing his wealth of commercial expertise to the
next stage of the company's growth.
This pre-series A round is part of a fundraising strategy to
complete pilots that are currently underway within UK hospitals and
to scale up commercial operations to meet global demand for their
technology platform. The funding will also be used to further
development towards market authorisation for SageTech's recycled
anaesthetic product.
This transaction increases assets under advisory by EMVC at
SageTech by a further GBP1.6m (excluding the sum invested by
NetScientific) to GBP2.7m.
SageTech's flexible, low-capex, modular system allows hospitals
to capture waste anaesthetic gas exhaled by patients in absorbent,
reusable canisters in the operating theatre. These canisters are
emptied, the gas stored in bulk tanks and then collected by
SageTech. The firm is currently developing technology which will
allow this gas to be recycled, purified and sold commercially.
Waste anaesthetic gases are a substantial and broadly
unaddressed cause of air pollution. The anaesthetic gas used by a
midsized hospital has the same environmental impact as 1,200 cars
each year. The NHS produces 5.4% of all the greenhouse gases in the
UK, as more than 95% of all the anaesthetic gas used is disposed of
into the atmosphere.
The technology also allows hospitals to use anaesthetic gas in
areas that do not have access to fixed Anaesthetic Gas Scavenging
Systems, the current solution used by hospitals to collect these
gases. These systems are built into a hospital's infrastructure
when it is constructed, meaning that hospitals have not been able
to expand operating theatre and intensive care capacity easily
during the Covid-19 pandemic. SageTech systems can allow for
'temporary' operating theatres to be used.
John Clarkson, Chairman of NetScientific and Director of
SageTech comments: "The last year has proven the need for
SageTech's technology. As the UK and many other countries focus on
achieving net zero by 2050, the case for anaesthetic gas recycling
is only going to get stronger.
"For 95% of all anaesthetic gas to be wasted is something that
simply must change. SageTech is well-positioned to be at the
forefront of that change.
"This funding round is going to power SageTech's scaleup and
it's hugely exciting for NetScientific and EMV Capital to be part
of that."
Iain Menneer, SageTech CEO, commented: "The successful close of
the pre-Series A round is further endorsement of SageTech Medical's
innovative technology and business proposition. Recent fundraising
gives the company the resources to complete development and final
clinical testing with UK hospitals before launching our anaesthetic
waste capture solution later this year.
"We have also attracted talented and committed individuals to
complement the SageTech team. Demand from hospitals has remained
high despite the inevitable demands of the pandemic. So in short,
we now have the necessary ingredients to embark upon the next
exciting chapter of SageTech's story."
For more information, please contact:
NetScientific Via Walbrook PR
Ilian Iliev, CEO
WH Ireland (NOMAD, Financial Adviser
and Broker)
Chris Fielding / Darshan Patel +44 (0)20 7220 1666
Walbrook PR
Anna Dunphy/ Nick Rome/ Paul McManus/ 07876 741 001 or 07748 325 236
Nicholas Johnson or 07980 541 893
or 07884 664 686
About NetScientific
NetScientific plc (AIM: NSCI) is a holding company, that invests
in, develops, commercialises and realises shareholder value in life
sciences/healthcare, sustainability and technology companies, which
offer significant growth potential predominately in the UK and USA,
as well as globally.
With the acquisition of EMV Capital in August 2020, the Group
doubled its portfolio from 8 to 17 companies, either through direct
subsidiary, balance sheet investment or capital under advisory,
varying from start-up private companies to publicly listed
equities.
NetScientific delivers shareholder returns through a proactive
and hands-on management approach to their portfolio companies;
identifying, investing in, and helping to build game-changing
companies. The Group targets value inflection points and the
release of value through partial or full exits from trade sales,
public listings, or equity sales. The Company has a strong
transatlantic and growing international presence, providing
attractive expansion prospects.
NSCI can deploy a capital-light investment structure; utilising
the power of the PLC Brand, and the NetScientific balance sheet to
anchor future investments and achieve a multiplier effect by
attracting 3rd party investment for the portfolio companies.
NetScientific is headquartered in London, United Kingdom, and
was admitted to trading on AIM, a market operated by the London
Stock Exchange, in 2013 (website: www.netscientific.net).
About SageTech
SageTech Medical Equipment Ltd specialises in the development
and commercialisation of patented technology. Its technology is
applicable to several industries but is being applied initially in
healthcare as an exemplar to reduce the environmental and financial
costs associated with anaesthesia. The technology is
internationally scalable and provides significant flexibility and
scalable advantages to healthcare. SageTech's solution offers large
financial savings on hospital infrastructure installations and
maintenance costs in time eliminating the need for expensive air
extraction systems to take the exhaled drugs from the operating
theatres to the chimney.
SageTech Medical has attracted interest and enquiries from
clinicians in the UK, Europe, America, Australia and Scandinavia,
all driven to reduce environmental damage, increase efficiency and
reduce costs.
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